Marketable Securities

3 Months Ended

Mar. 31, 2018

Note 6. marketable securities

As a result of the passage of the 2017 Tax Act during the fourth quarter of 2017, we liquidated our marketable securities held outside the U.S. during the first quarter of 2018 and recognized a loss of approximately $0.3 million. We repatriated these funds and reduced our revolving debt balance during the first quarter of 2018.

The amortized cost and fair value of marketable securities as of December 31, 2017, were as follows (in thousands):


As of December 31, 2017		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value

Corporate bonds	$	140,969	$	96	$	(179)	$	140,886
Certificates of deposit		58,510		-		-		58,510
Commercial paper		29,171		-		-		29,171
Asset backed securities		22,206		4		(43)		22,167
U.S. government bonds		15,619		11		(19)		15,611
Agency bonds		10,990		9		(52)		10,947
Treasury bills		6,964		-		(1)		6,963
Total marketable securities	$	284,429	$	120	$	(294)	$	284,255

We held marketable securities with effective maturities of two years or less that had an average AA- credit rating as of December 31, 2017.